BACKING THE BEST

"Backing the best" Community Enterprise support - grant/loan package

Backing the best
Yorkshire Forward has launched a one-year pilot to help community enterprises grow through a package of grants and loans. The project's purpose is to see whether such mixed finance, combined with business advice, can help the transition to commercial trading.

What's on offer?
A grant of up to £60K that needs to be matched by at least an equal amount of loan (not other grants) + assistance with business planning.

Who can apply?
Community enterprises in West Yorkshire with some track record. A community enterprise is defined as an independent enterprise that is accountable to a geographical community (like a Development Trust) or community of interest (e.g. disability)

In each of the five West Yorkshire districts we are looking for about three applicants and would hope to support one or two in each district.

What will the money support?
A business proposition that has the prospect of continuing without grants within three years. This might be for the organisation as a whole or a particular trading venture. The activity can already be underway if the plan shows a transition from grant dependence to self-sufficiency.

The grant can support both capital and revenue activity.

What help can I get with the application?
The Camberwell Project will help eligible applicants assemble a business plan, find the match finance and look at alternative business models if necessary.

How do I become an eligible applicant?
Those interested in applying should contact Kristy Swift at The Camberwell Project. They will be asked to submit a simple two-sided business plan which, supplemented with a discussion with Camberwell, will enable the Steering Group to judge whether the application should go forward.

All interested community enterprises should have registered with Kristy by the end of April.

What else do I need to know?
Grant /loan approvals should be made by October 08
Capital grant needs to be spent by March 09
Revenue grant spent by December 09 -State Aid rules will apply
The Grant will be paid on a monthly claims basis from Yorkshire Forward under their terms and conditions.

Steering group
Backing the Best is run by a partnership consisting of Yorkshire Forward, the Development Trusts Association, Charity Bank, The Camberwell Project and representatives of the five districts. Camberwell administer the pilot and provide consulting support.

CONTACT:

Kristy Swift
The Camberwell Project, 231-235 Chapeltown Road, Leeds LS7 3DX.
E: kristy.swift@camberwellproject.co.uk
T: 0870 851 8677 M: 07718 982546.